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I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

GBP/USD: "V-Bottom" set up local correction

GBP/USD: "V-Bottom" set up local correction

We’ve got a new low here. Even though, bears are likely going to move on, so we should keep an eye on the next support at 1.2849 – 1.2795 as an intraday target. Only if a pullback from this area happens, there’ll be a chance to see a local upward correction.

GBP/USD: "V-Bottom" set up local correction

The price faced a support at 1.2877, so we’ve got a local consolidation. If we see a pullback from a resistance at 1.2933 – 1.2954, bears are likely going to deliver a new low. The next target is a support at 1.2849 – 1.2795.

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